If it is done for inadequate consideration, then clubbing is applicable and Income is taxable in the hands of transferor

 

Income from Assets transferred to any other person for the benefit of spouse - Different types of Clubbing

  1. Income Tax
  2. Clubbing of Income of Other Persons
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Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 7 years. He provides courses for Mathematics and Science from Class 6 to 12. You can learn personally from here https://www.teachoo.com/premium/maths-and-science-classes/.
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